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Elizabeth Warren @SenWarren
, 19 tweets, 11 min read Read on Twitter
The Senate is expected to pass the #BankLobbyistAct – with Democratic support. But I'm not going down without a fight. ​I've sponsored a series of amendments to fix major flaws in the bill and add important consumer protections. Here are all 17:
1. Amend the #BankLobbyistAct to prevent rolling back rules on banks that received over $1 billion in taxpayer bailouts during the 2008 crisis. They already wrecked our economy once – we can't let them do it again.
2. Amend the #BankLobbyistAct to prevent rolling back rules on banks that are under Justice Department supervision after being busted for breaking the law. They broke the rules already – they shouldn't be rewarded with less oversight.
3. Amend the #BankLobbyistAct to prevent rolling back rules on banks that were fined over $10 million by regulators in the last 10 years. These banks have caused enough damage already – think of the harm they could do with even fewer rules.
4. Amend the #BankLobbyistAct to prevent rolling back rules on banks that have outsourced more than 50 jobs in the last 5 years. Congress should reward keeping jobs here at home – not do favors for banks that move jobs overseas.
5. Amend the #BankLobbyistAct to prevent banks that receive regulatory rollbacks as a result of this bill from buying back stock for 5 years. Why would we loosen the rules on big banks just so they can shower more money on wealthy shareholders and executives?
6. Amend the #BankLobbyistAct to prevent banks that receive regulatory rollbacks from this bill from merging or acquiring another bank for 5 years. Loosening the rules on these big banks will lead to more consolidation in the banking industry unless Congress prohibits it.
7. Amend Section 301 of the #BankLobbyistAct to include the FREE Act – which I introduced after the #EquifaxBreach to allow Americans to freeze their credit files without paying fees to the credit reporting agencies.…
8. Amend the #BankLobbyistAct to include a bill I introduced to impose automatic penalties on credit bureaus like @Equifax for data breaches.…
9. Amend the #BankLobbyistAct to include my bill banning the use of credit reports in hiring.…
10. Amend the #BankLobbyistAct to include the bipartisan 21st Century Glass-Steagall Act that would break up the biggest banks.…
11. Amend the #BankLobbyistAct to expand the CARD Act to keep students safe from predatory financial products on college campuses.
12. Amend the #BankLobbyistAct to ban the use of mandatory arbitration clauses in contracts for student loans.
13. Amend the #BankLobbyistAct to include the Sunlight in Workplace Harassment Act – a bill I introduced to require publicly-traded companies to disclose workplace harassment & discrimination settlements.…
14. Amend the #BankLobbyistAct to include additional protections for student borrowers against loan servicers, lenders, and holders.
15. Amend the #BankLobbyistAct to include consumer protections for student borrowers who take out private loans to finance their education.
16. Amend Section 303 of the #BankLobbyistAct to keep seniors safe from financial abuse while still protecting them from bank scams.
17. Amend Section 401 of the #BankLobbyistAct so it doesn't provide big banks with the giant legal loophole they need to challenge how the Fed regulates them.…
If we're going to vote on the #BankLobbyistAct – we should vote on each of these amendments so the American people know whose side their senators are on: Working families or big banks.
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